Senegalese President Diomaye Faye has raised alarm over serious irregularities in the management of public finances from 2019 to 2024, as revealed in an audit report by the Court of Auditors.
The report highlights a sharp increase in budget deficits and public debt, prompting the president to order immediate corrective measures.
The audit found that the budget deficit surged from 9.85% in 2019 to 12.30% in 2023, while public debt skyrocketed from 65.59% of GDP in 2019 to 99.67% in 2023. Key irregularities included: Misallocation of revenues, distorting deficit figures, Untracked expenditures, especially from external funding, Irregular use of Treasury accounts and unjustified budgetary transfers and excessive borrowing, leading to over-financing without budgetary coverage.
In response, President Faye has ordered: An end to irregular revenue practices and the enforcement of transparent accounting, a full audit of externally financed expenditures to reconcile discrepancies, reform of special Treasury accounts for compliance and transparency, a review of debt policies to curb excessive borrowing and timely publication of tax expenditure reports, in line with UEMOA guidelines.
Prime Minister Ousmane Sonko and Finance Minister Cheikh Diba have been tasked with implementing these reforms to restore fiscal discipline and economic stability in Senegal.
CHAD
